trending Market Intelligence /marketintelligence/en/news-insights/trending/HJTzKXY8JZX8pfGK01sdMA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Emergent Capital sells senior secured notes

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Emergent Capital sells senior secured notes

Emergent Capital Inc. on Dec. 28, 2018, entered into subscription agreements with several investors who purchased an aggregate of about $5.7 million principal amount of the company's 8.5% senior secured notes for an aggregate purchase price of about $4.3 million.

Each of the investors is affiliated with either Matt Epstein or James Hua, members of Emergent Capital's board of directors.

The company also received a commitment letter on Dec. 28, 2018, from Ironsides Partners LLC, an entity affiliated with Robert Knapp, a member of the company's board, for an aggregate investment, at the company's election, of up to $2 million principal amount of senior notes for an aggregate purchase price of up to $1.5 million no later than Jan. 31.

The commitment letter contains certain conditions precedent to Ironsides' obligations to buy such senior notes.